Affordable Housing
Our attorneys are at the forefront of innovative, public-private partnership efforts to provide financing solutions to incentivize affordable housing projects in Tennessee. We represent private developers and public housing authorities (PHAs) in projects that utilize Low-Income Housing Tax Credits (LIHTC); tax exempt housing bonds; loans subsidized by Community Investment Tax Credits (CITC) authorized by the state of Tennessee and various FHA-insured products, including Fannie Mae’s Reduced Occupancy Affordable Rehab (ROAR) and HUD 221(d)(4) loans.
As the U.S. Department of Housing and Urban Development’s Rental Assistance Demonstration program (RAD) continues to gain traction in addressing the estimated $26 billion nationwide backlog of deferred public housing property maintenance, we are actively assisting PHAs as they leverage this tool to preserve and improve public housing properties in Tennessee. We help PHAs through the application process and in the conversion of units to project-based Section 8 contracts. We also routinely facilitate payment in lieu of tax transactions (PILOTs) to support development of affordable housing.
Our strength is rooted in experience. Regardless what direction new tax policy takes, Bass, Berry & Sims will be positioned to offer the highest level of strategic advice to clients in affordable housing.
Experience
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Represented the developer of Burlington Commons, an affordable housing complex in East Knoxville
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Served as bond counsel and local counsel to affiliates of social services organization People Incorporated of Virginia in connection with a low income housing tax credit project
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Served as bond counsel to LHP Capital, LLC in three tax exempt financings relating to the rehabilitation of three low-income housing facilities located in Nashville
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Represented Knoxville’s Community Development Corporation in connection with the RAD conversation of three large housing projects – one of Tennessee’s largest RAD transactions to date
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Served as bond counsel in connection with the issuance of tax-exempt bonds for the rehabilitation of five different affordable housing facilities throughout the State of Tennessee
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Assisted Knoxville’s Community Development Corporation with a major modernization program of its public housing projects
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Closed a tax-exempt financing for the acquisition and rehabilitation of the Townview Towers, a low-income housing facility in Knoxville
Professionals
Notice
Visiting, or interacting with, this website does not constitute an attorney-client relationship. Although we are always interested in hearing from visitors to our website, we cannot accept representation on a new matter from either existing clients or new clients until we know that we do not have a conflict of interest that would prevent us from doing so. Therefore, please do not send us any information about any new matter that may involve a potential legal representation until we have confirmed that a conflict of interest does not exist and we have expressly agreed in writing to the representation. Until there is such an agreement, we will not be deemed to have given you any advice, any information you send may not be deemed privileged and confidential, and we may be able to represent adverse parties.
Notice
Visiting, or interacting with, this website does not constitute an attorney-client relationship. Although we are always interested in hearing from visitors to our website, we cannot accept representation on a new matter from either existing clients or new clients until we know that we do not have a conflict of interest that would prevent us from doing so. Therefore, please do not send us any information about any new matter that may involve a potential legal representation until we have confirmed that a conflict of interest does not exist and we have expressly agreed in writing to the representation. Until there is such an agreement, we will not be deemed to have given you any advice, any information you send may not be deemed privileged and confidential, and we may be able to represent adverse parties.
Notice
Visiting, or interacting with, this website does not constitute an attorney-client relationship. Although we are always interested in hearing from visitors to our website, we cannot accept representation on a new matter from either existing clients or new clients until we know that we do not have a conflict of interest that would prevent us from doing so. Therefore, please do not send us any information about any new matter that may involve a potential legal representation until we have confirmed that a conflict of interest does not exist and we have expressly agreed in writing to the representation. Until there is such an agreement, we will not be deemed to have given you any advice, any information you send may not be deemed privileged and confidential, and we may be able to represent adverse parties.
Notice
Visiting, or interacting with, this website does not constitute an attorney-client relationship. Although we are always interested in hearing from visitors to our website, we cannot accept representation on a new matter from either existing clients or new clients until we know that we do not have a conflict of interest that would prevent us from doing so. Therefore, please do not send us any information about any new matter that may involve a potential legal representation until we have confirmed that a conflict of interest does not exist and we have expressly agreed in writing to the representation. Until there is such an agreement, we will not be deemed to have given you any advice, any information you send may not be deemed privileged and confidential, and we may be able to represent adverse parties.
Notice
Visiting, or interacting with, this website does not constitute an attorney-client relationship. Although we are always interested in hearing from visitors to our website, we cannot accept representation on a new matter from either existing clients or new clients until we know that we do not have a conflict of interest that would prevent us from doing so. Therefore, please do not send us any information about any new matter that may involve a potential legal representation until we have confirmed that a conflict of interest does not exist and we have expressly agreed in writing to the representation. Until there is such an agreement, we will not be deemed to have given you any advice, any information you send may not be deemed privileged and confidential, and we may be able to represent adverse parties.
Notice
Visiting, or interacting with, this website does not constitute an attorney-client relationship. Although we are always interested in hearing from visitors to our website, we cannot accept representation on a new matter from either existing clients or new clients until we know that we do not have a conflict of interest that would prevent us from doing so. Therefore, please do not send us any information about any new matter that may involve a potential legal representation until we have confirmed that a conflict of interest does not exist and we have expressly agreed in writing to the representation. Until there is such an agreement, we will not be deemed to have given you any advice, any information you send may not be deemed privileged and confidential, and we may be able to represent adverse parties.